High momentum stocks to watch for 06-Feb-2023

High momentum stocks to keep an eye on!

by 5paisa Research Team Last Updated: Feb 06, 2023 - 03:12 pm 1k Views

Looking for stocks that could deliver good returns soon? Here are the High Momentum stocks that one must watch for tomorrow selected on a three-factor model.     

Many participants see a stock opening with a gap-up and wish they should have bought this high momentum stock a day before to take advantage of the gap-up move. To fulfil this wish, we have come out with a unique system, which would help us to get the list of candidates that can be probable high momentum stocks for tomorrow.        

The high momentum stocks for tomorrow selected are based on a three-factor prudent model. The first important factor for this model is price, the second key factor is the pattern, and last but not least is the combination of momentum with volume. If a stock passes all these filters, it would flash in our system and as a result, it would help traders to spot the high momentum stocks for tomorrow at the right time!

Here are the high momentum stocks to keep an eye on:        

Zydus Lifesciences: The stock has registered a strong breakout from its ascending triangle pattern with massive volume. It has seen fresh buying interest and it soared over 8% in Monday's trading session. It trades above all its key moving averages and currently trades at the day’s high. We can expect it to remain positive in the next trading session as well.

Sona BLW Precision Forgings: The scrip registered a strong price volume breakout from 8-day consolidation and surged 6%. The volumes have been higher than the 10-day average volume. Also, it has surged above the 100-DMA. With the trading at the day’s high, we can expect a gap-up opening in the next trading session.

Navin Fluorine: The stock has jumped nearly 3% and currently trades at the breakout level of its double-bottom pattern. The stock depicts a bullish reversal after a steep fall of over 20% from its prior swing high level. Also, it has crossed above its 200-DMA and has good volume. With positive price action, the stock is expected to remain bullish in the next trading session.

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